Mark C. Schneyer Sells 3,171 Shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) Stock

ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) EVP Mark C. Schneyer sold 3,171 shares of the company’s stock in a transaction on Wednesday, March 26th. The stock was sold at an average price of $17.05, for a total value of $54,065.55. Following the sale, the executive vice president now owns 56,889 shares of the company’s stock, valued at approximately $969,957.45. The trade was a 5.28 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

ACADIA Pharmaceuticals Price Performance

ACAD opened at $17.19 on Friday. ACADIA Pharmaceuticals Inc. has a 12-month low of $14.15 and a 12-month high of $20.68. The stock has a market capitalization of $2.87 billion, a PE ratio of 22.04 and a beta of 0.43. The firm’s fifty day moving average price is $18.35 and its 200 day moving average price is $17.02.

Institutional Investors Weigh In On ACADIA Pharmaceuticals

A number of institutional investors have recently modified their holdings of ACAD. Phocas Financial Corp. increased its holdings in ACADIA Pharmaceuticals by 79.0% in the fourth quarter. Phocas Financial Corp. now owns 107,811 shares of the biopharmaceutical company’s stock valued at $1,978,000 after buying an additional 47,596 shares during the last quarter. Jefferies Financial Group Inc. bought a new stake in shares of ACADIA Pharmaceuticals in the 4th quarter valued at approximately $2,106,000. Mackenzie Financial Corp raised its position in shares of ACADIA Pharmaceuticals by 180.1% during the 4th quarter. Mackenzie Financial Corp now owns 51,065 shares of the biopharmaceutical company’s stock valued at $937,000 after acquiring an additional 32,833 shares in the last quarter. GF Fund Management CO. LTD. bought a new position in ACADIA Pharmaceuticals during the fourth quarter worth $64,000. Finally, CTC Alternative Strategies Ltd. acquired a new position in ACADIA Pharmaceuticals in the fourth quarter worth $1,012,000. Institutional investors and hedge funds own 96.71% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on ACAD shares. HC Wainwright restated a “buy” rating and set a $27.00 price target on shares of ACADIA Pharmaceuticals in a research note on Thursday, February 27th. StockNews.com raised shares of ACADIA Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Saturday, March 8th. Guggenheim cut shares of ACADIA Pharmaceuticals from a “buy” rating to a “neutral” rating and reduced their price target for the company from $23.00 to $20.00 in a research report on Friday, January 3rd. Cantor Fitzgerald reissued an “overweight” rating and issued a $28.00 price objective on shares of ACADIA Pharmaceuticals in a research report on Thursday, February 27th. Finally, Deutsche Bank Aktiengesellschaft began coverage on shares of ACADIA Pharmaceuticals in a report on Tuesday, February 11th. They set a “hold” rating and a $22.00 target price on the stock. Eight investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $23.93.

About ACADIA Pharmaceuticals

ACADIA Pharmaceuticals Inc, a biopharmaceutical company, focuses on the development and commercialization innovative medicines that address unmet medical needs in central nervous system (CNS) disorders and rare diseases in the United States. The company offers NUPLAZID (pimavanserin) for the treatment of hallucinations and delusions associated with Parkinson's disease psychosis; and DAYBUE, a novel synthetic analog of the amino-terminal tripeptide of insulin-like growth factor 1 for treatment of Rett Syndrome.